borrowers

Red percentage symbol with an arrow up. Vector illustration.
Federal Reserve policymakers will meet next week to decide whether to raise a key interest rate. If they do, it’ll be the first time since June 2006.
iStock_000016652360Medium
Advertisements touting reverse mortgages often leave older consumers confused about the loan terms and unaware of the risks, according to a new report from the Consumer Financial Protection Bureau.
Reverse Mortgage
If you’ve thought about taking out a reverse mortgage, be aware that new rules that recently kicked in might make it harder for you to qualify.
Piggy bank with trail of pennies leading to a house
A three-year examination of reverse mortgage complaints to the Consumer Financial Protection Bureau shows that borrowers often didn’t understand the terms of those loans, including how quickly th eir loan balances would go up and their home equity would fall, the bureau said in a new  report.
Benjamin Franklin on $100 Bill Silenced by Debt
Big banks are beginning to cut some slack to distressed student-loan borrowers.
piggy with graduation cap on money
Borrowers struggling to repay private student loans say they have little choice but to default because lenders won’t revise payments to make them affordable, according to a new report by the Consumer Financial Protection Bureau.
Approved Car loan application Form with pen, calculator
The Consumer Financial Protection Bureau wants to extend its oversight to large nonbank auto-finance companies to make sure they are not discriminating against consumers.
payday-thumb-4
Ace Cash Express, one of the nation's largest payday lenders, has agreed to pay a $10 million settlement over its collection practices.
mortar board, money, diploma
Just as the Federal Reserve Bank of New York is raising concern about growing student loan debt and defaults, President Barack Obama is moving to expand a repayment program aimed at helping lower-income borrowers.
Financial Problems.
Here's some good news for people hounded by relentless debt collectors and hauled into court. Two of the nation's biggest debt collection companies have agreed t o stop lawsuits against borrowers and drop collections on some $16 million in judgments.
Search AARP Blogs